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For sale: Caterham F1 team. Got R6bn?

2014-05-26 09:54

BAD YEAR FOR CATERHAM : Kamui Kobayashi’s Caterham is removed by a crane after he failed to finish the qualifying session ahead of the 2014 Monaco GP. Now it seems the team is set to be sold. Image: AP/Claude Paris

KUALA LUMPUR, Malaysia - Flamboyant millionaire Tony Fernandes has apparently put his Caterham Formula 1 team up for sale, seeking about R6-billion for all assets of the UK-based parent company.

Fernandes, who also owns budget airline AirAsia and the English football club Queens Park Rangers, warned in January 2014  that he would stop funding the F1 team unless its performance improved.

FAILED TO SCORE POINTS

Citing an unnamed source, Malaysia's Edge financial daily on Sunday (May 25 2014) said Fernandes planned to off-load the group's assets, adding that an information memorandum for the sale was being circulated in the Middle East.

Fernandes, ranked the 28th richest person in Malaysia by Forbes magazine, did not respond to AFP's requests for comment.

Fernandes entered the sport with Caterham in 2010 but the team failed to win a point in the 2012 and 2013 seasons.
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